Qualcomm "buy," target price raised - update

20.03.07 - Deutsche Securities

NEW YORK, March 20 (newratings.com) - Analysts at Deutsche Bank Securities maintain their "buy" rating on Qualcomm Incorporated (QCOM). The target price has been raised from $50 to $55.

In a research note published this morning, the analysts mention that the ITC judge presiding over the Qualcomm versus Nokia case has quashed two defenses of Nokia. Qualcomm has indicated that it has now become difficult for Nokia to make arguments regarding Qualcomm?s licensing process and that the focus of the case has now turned towards the infringement of patents by Nokia.